Karcher, the global leader in cleaning technology, has announced the promotion of Joe Lahoud to Regional President of the newly unified Middle East and Africa (MEA) region. This strategic consolidation brings 68 countries under a single leadership framework, streamlining Karcher’s extensive professional and consumer portfolios to better serve the evolving needs of the two continents.
By integrating Middle Eastern and African operations, Karcher aims to provide seamless access to its world-class cleaning solutions. The move places everything in the 1000+ product portfolio of Karcher, ranging from high-pressure cleaners and industrial scrubber driers to autonomous robots and municipal sweepers under Lahoud’s guidance. This leadership structure ensures that critical industries receive specialized, local and adapted support within multiple target groups such as Agriculture, Automotive, Building Service Contractor, Construction, Healthcare, Hospitality, Industry, Public Service, Retail, Transport and Mining.
Since 2020, Joe Lahoud has led Karcher’s Middle East operations, transforming the Dubai headquarters into a regional center of excellence. His tenure has been defined by high-volume growth and deepened partnerships with government entities, professionals and industrial leaders. In this expanded capacity, he will now oversee the strategic integration of the African continent, scaling distribution and technical support to meet rising demand in emerging markets.
Additionally, this move reinforces Karcher’s current official presence in key economic hubs such as Egypt, Morocco, Tunisia, Ivory Coast, South Africa, and Kenya, while simultaneously strengthening an extensive dealer network that spans the entire continent.
“The unification of the MEA region allows us to tell a complete brand story. We are a resilient, innovation-driven ecosystem that supports national development and individual household cleaning needs simultaneously. From high-pressure cleaners for the weekend car wash to heavy-duty mining equipment, we are delivering a unified vision of efficiency and sustainability to every corner of these two continents.”
The strategic consolidation of the Middle East and Africa represents a bold step forward in Karcher’s global growth strategy. Under Lahoud’s leadership, this move harmonizes regional expertise with untapped market potential, creating a powerhouse of technical support and distribution. By streamlining operations, Karcher solidifies its role as an architect of modern infrastructure and sustainable living. Looking ahead, this new chapter promises a wealth of possibilities, empowering the entire region with the tools to build a brighter, more sustainable tomorrow.
Tag: Mining
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Karcher Announces Joe Lahoud as President for Newly Formed Middle East & Africa (MEA) Region
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Access Holdings’ Lanre Bamisebi Calls for Sector-Focused, AI-Driven Transformation in African Corporate Banking
Corporate banking in Africa is undergoing a transformation, and the conversation has shifted beyond traditional deposits and loans.
Speaking recently during a panel session at Future of Finance Summit, Lanre Bamisebi, Executive Director, IT and Digitisation at Access Holdings, highlighted the urgent need for financial institutions to bridge the widening gap between what corporates require and what banks currently provide.
“Corporates are no longer asking for just an ad or a simple product, they want visibility into liquidity, frictionless cross-border payments, and integrated solutions that anticipate their changing needs,” Bamisebi noted during the session. Despite progress across the industry, he acknowledged a persistent disconnect between corporate expectations and available banking services.
Drawing from Access Bank’s scale, serving over 65 million customers and processing up to 12.5 million transactions daily, Bamisebi underscored the transformative potential of technology and artificial intelligence in closing this gap. Advanced data management and AI-driven insights, he said, now make it possible to personalise corporate solutions at a level previously unimaginable.
“Retail banking is straightforward; corporate banking is complex. Every company, even within the same sector, has unique needs that require tailored solutions.” he explained.
Bamisebi also addressed the realities of legacy systems and the challenge of innovating while maintaining stability. “It is like flying a plane while serving meals, ” he quipped. ” We have to keep operations steady while deploying technology and AI to adapt to corporate requirements as they evolve.”
He emphasised that generic, one-size-fits-all products no longer meet the needs of companies in sectors such as oil and gas, mining, and telecommunications. Instead, banks must invest in in-depth sector expertise, build flexible AI-enabled solutions, and continually evolve alongside their clients. The future, he said, belongs to institutions that can deliver predictability and proactive service, anticipating needs before clients even voice them.
On the growing reliance on AI, Bamisebi expressed measured optimism. While AI is now essential to modern banking, he cautioned that its biases and potential “hallucinations” require strong oversight. He compared today’s stage of AI adoption to the early days of the Internet: transformative, necessary, and demanding vigilance.
Looking ahead, Bamisebi offered three strategic recommendations for banks aspiring to become the preferred corporate banking partners across Africa: Model success; Study and adapt effective frameworks, including Access Bank’s customer-centric approach. Focus on a niche; Rather than attempting to serve every sector, specialise deeply and deliver superior value in selected industries and commit to continuous learning; Stay attuned to clients’ evolving needs and invest in technology capable of anticipating those changes.
Bamisebi concluded that the future of corporate banking in Africa lies in the fusion of sector-specific expertise, AI-driven insights, and relentless adaptability. Banks that embrace this trifecta, he affirmed, will not only meet the needs of modern corporates but also play a defining role in shaping the continent’s financial future.
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Nigeria–China Strategic Partnership (NCSP) Celebrates Shared October 1st Milestones, Strengthens Bilateral Ties
The Nigeria–China Strategic Partnership (NCSP) has joined millions around the world to celebrate October 1st, a historic date for both nations. On this day, Nigeria marks 65 years of independence while the People’s Republic of China commemorates 76 years of nationhood.
Extending warm congratulations, NCSP Director General, Mr. Joseph Olasunkanmi Tegbe, described the dual celebrations as a symbol of resilience, progress, and the power of intentional partnerships.
“As Nigeria celebrates 65 years of independence and the People’s Republic of China marks 76 years of national pride on the same historic date, NCSP stands firmly at the center of deepening the bond between our nations. Together, we are building pathways for shared prosperity across generations,” Tegbe said.
Since its establishment, NCSP has played a central role in strengthening Nigeria–China relations. Through strategic engagements with senior Chinese government officials and leading business executives, the Partnership has facilitated multi-billion-dollar investments in priority sectors including agriculture, automotive manufacturing, mining, steel production, energy, and digital transformation.
As Nigeria and China celebrate their shared milestones, NCSP reaffirmed its unwavering commitment to advancing cooperation, ensuring that the bilateral relationship continues to translate into sustained economic growth, innovation, and mutual progress.
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AMCON Transfers 34% Stake in Unity Bank to Providus, Strengthening Merger Deal
The Asset Management Corporation of Nigeria (AMCON) on Thursday offloaded 34 per cent of its stake in Unity Bank Plc to Providus Bank.
This has strengthened the business combination deal between Providus and Unity Bank.
The 34 per cent total equity stake in Unity Bank was transacted through a crossed deal on the floor of the Nigerian Exchange Limited (NGX) to the preferred bidder, 24 hours ahead of their Court-Ordered Meeting to approve the scheme of merger.
The transaction was completed involving four billion Unity Bank shares at N1.66 per share, amounting to over N6.5 billion in value.
A total of three deals was carried out on Unity Bank shares on the Exchange on September 25, 2025.The ongoing business combination arrangement is a milestone for Providus Bank as it puts it in a comfortable position to beat the March 31, 2026, recapitalisation deadline that was placed by the Central Bank of Nigeria.
Providus Bank began operations in June 2017. It is licensed by the Central Bank of Nigeria to provide banking services to individuals and businesses. The bank has a strong IT infrastructure and digital channels which it deploys to provide exceptional service to our customers so they can achieve their objectives.
Providus Bank is an innovative financial institution that provides personal, private, corporate, commercial and digital banking products and solutions.
Its tailored financial services delivery includes: Business Advisory, Portfolio Management, Personalised Relationship Management, Fast-tracked Service delivery and Self-service solutions. Providus Bank competitive advantage in Private, Institutional, Business and Personal Banking is driven by the philosophy to create support and value for Institutions, Agencies, SMEs and HNIs.
Its business development strategy also focuses on developing expertise and collaborating to improve the non-oil (emerging) sector of the Nigerian Economy, which includes but not limited to Agriculture, Mining, Hospitality, E-commerce, and Art & Entertainment.
Providus Bank believes that the New World of Fast, Smart, Personal, and Borderless banking relationship is here. We are therefore inspired by our Future Forward Banking ethos to make life (at work and leisure) more exciting for our partners with the use of cutting-edge technology that delivers best-in-class customer satisfaction.
In less than 10 years, Providus Bank has emerged as one of the fastest growing financial institutions in the country.
Through this merger, Providus aims to transform from a niche player into a national bank, leveraging Unity Bank’s over 211-branch network spread across all 36 states and the FCT.
The move aligns with Providus’ broader strategy to deepen its retail presence and diversify its customer base.
Additionally, Providus Bank would significantly benefit from scale in retail banking as it would expand its footprint from a largely digital operation to a full-fledged national player.It also brings in a strong SME lending pipeline, especially in agriculture, mining, ecommerce, hospitality, and entertainment sectors, which both banks already support.
Providus plans to integrate its technology stack into Unity Bank’s branch network, enhancing service delivery and cost efficiency.
The bank believes the combined entity will unlock new value across its retail, SME, and digital channels.At the court order meeting, Unity Bank shareholders will decide whether to approve a cash consideration of N3.18 per share or opt for a share swap under which every 17 Unity Bank shares convert into 18 shares in the enlarged Providus Bank.
If approved, Unity Bank’s assets, liabilities, intellectual property, and ongoing legal matters will be transferred to Providus. Unity Bank will be dissolved, with Providus continuing as the surviving entity.
The meeting is expected to pave the way for regulatory sign-offs from the CBN and the Securities and Exchange Commission (SEC), both of which had already approved the merger in August 2024.
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Cassava Technologies and Accenture Accelerate Sovereign Artificial Intelligence (AI) Cloud Adoption across Africa
…The solutions will enable Cassava’s existing and potential customers to process AI workloads and data within national borders in alignment with local requirements and regulations
Cassava Technologies (Cassava), a global technology leader of African heritage, has agreed a strategic collaboration with Accenture (NYSE: ACN) to scale Cassava’s sovereign AI capability across Africa.
Accenture will leverage its AI Refinery™ platform and other technologies to design and deliver sovereign AI solutions utilising Cassava’s GPU-as-a-Service (GPUaaS), housed in Cassava’s secure data centre facilities, accelerated with NVIDIA AI infrastructure. The solutions will enable Cassava’s existing and potential customers to process AI workloads and data within national borders in alignment with local requirements and regulations.
Cassava will begin in South Africa and later expand into Egypt, Kenya, Morocco, and Nigeria. This phased rollout is in line with Cassava’s expansions planned at its other data centre facilities across Africa. Cassava will leverage the company’s pan-African high-speed, ultra-low-latency, fibre broadband network, which interconnects the company’s energy-efficient data centres to power AI computing workloads.
“AI is opening up exciting new opportunities for sparking innovation, advancing competitiveness and driving growth across Africa,” said Mauro Macchi, CEO of Accenture for Europe, Middle East and Africa. “With our deep, global experience in sovereign cloud and AI, Accenture will help Cassava deliver secure, scalable sovereign AI solutions and reimagine its operations. Together, we will enable organizations across the African continent to adopt AI with confidence and unlock new ways to create value.”
“With our GPUaaS, Cassava will drive the continent’s AI revolution by allowing businesses to access compute power based on their individual needs. This is our commitment to ensuring Africa has the infrastructure and access it needs to compete in the AI era – AI isn’t just a technology story; it’s a nation-building story with inclusion at its centre,” said Ahmed El Beheiry, CEO of Cassava AI. “Collaborating with Accenture allows us to leverage their global expertise in building a sovereign AI cloud capability designed for the African market. This partnership will strengthen data governance, drive practical AI adoption across key industries, and ensure that we provide African solutions for African challenges.”
Through this collaboration, the two companies will integrate the context, languages, and cultural nuances of the region into these AI solutions, ensuring that the solutions/services are relevant and impactful for African enterprises across key sectors such as financial services, mining, telecommunications, agriculture, and healthcare. This localised approach will not only strengthen compliance and trust but also ensure that the technology reflects the realities of the markets it serves, enabling businesses to innovate in ways that are meaningful and sustainable.
Cassava will invest in the infrastructure and platform build-out to ensure readiness for commercialisation, with a focus on scalability, security, and compliance, thereby reinforcing its broader commitment to responsible AI adoption, innovation and productivity growth in Africa.
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PIC and BII sign landmark partnership to advance vital investment across Africa
The Public Investment Corporation (PIC) and British International Investment (BII) have signed a Memorandum of Understanding (MoU) to accelerate collaboration in investments across the African continent.
The agreement between one of Africa’s largest asset managers and the UK’s development finance institution and impact investor, establishes a framework for the PIC and BII to jointly explore and pursue impactful investment opportunities, aligning their mandates and resources to drive sustainable economic growth and development across the continent.
The MoU outlines a commitment to share deal pipelines, facilitating the exchange of promising investment opportunities across various economic sectors like agriculture, financial services, infrastructure and climate initiatives. The partnership will foster regular dialogue and explore co-investment possibilities, leveraging the expertise of both organisations to maximise impact.
By combining their strengths, the PIC and BII aim to unlock new avenues for capital deployment and contribute to transformative development across Africa. The organisations have committed to review investment opportunities in debt, equity and funds.
The PIC has an investment mandate that enables it to capitalise on development-focused projects. In this regard, the PIC development mandate incorporates broad areas including investments in unlisted South African-based entities, with a focus on sectors such as agriculture, manufacturing, mining, and financial services economic, environmental, and social infrastructure, as well as developmental investments in the rest-of-Africa.
On the other hand, BII has been investing in Africa for over 75 years, providing long-term capital that supports the growth of productive, sustainable and inclusive economies. With a portfolio of US $5.6 billion invested across 810 companies in Africa, the DFI uses its capital to back businesses that drive local economies, build infrastructure that connects people, and create jobs and services that help communities to thrive. The partnership with PIC forms part of BII’s strategy to work with institutional investors and use its concessionary capital to create ways in which more commercial capital can be deployed to support development in Africa.
According to Mr. Abel Sithole, outgoing CEO of the PIC, the organisation’s strategy of investing on the rest of the African continent is underpinned by investing through partnerships. “The BII partnership cements this strategy and will enable the use of blended funding models to unlock investments that facilitate infrastructure development, industrialisation and trade on the continent. We are elated by the powerful force of two large impact investors working together for the benefit of Africa,” Mr. Sithole explained.
Commenting on the cooperation, Mr. Kabelo Rikhotso, the PIC Chief Investment Officer said: “We consider cooperation and partnerships as an important factor in our ability to deliver on client investment mandates. The signing of this MoU provides the opportunity to expand our investments across Africa. Sharing deal pipelines and the potential for co-investment opportunities provides important prospects for cooperation between the PIC as an asset manager and the BII as a global development finance institution, committed to investing in emerging economies.”
Mr. Leslie Maasdorp, BII CEO added: “This partnership with PIC exemplifies our shared ambition to drive growth and increase impact across the continent. By leveraging our combined expertise and resources, we can unlock new opportunities for transformative investments that support sustainable development, drive economic growth, and attract increased commercial capital into key sectors across Africa.”
Mr. Antony Phillipson, British High Commissioner to South Africa, said: “This landmark partnership between BII and the PIC marks a significant step forward in deepening the UK-South Africa Growth Partnership. It reflects our shared commitment to mobilising capital for sustainable development across Africa. This collaboration brings together two institutions with a strong track record and a common vision – to unlock inclusive growth, support resilient infrastructure, and create long-term opportunities in South Africa and across the continent.”
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Rolls-Royce Expands African Footprint with New Regional Headquarters in South Africa
…The new site consolidates core customer-facing functions into a central hub, including service coordination, spare parts storage, logistics, and technical training
- Training up to 150 engineers per year
Rolls-Royce has officially opened a new headquarters and training facility in Johannesburg, South Africa, to support its Power Systems division. The new facility is further evidence of the company’s long-term commitment to Africa and will support the growing fleet of Power Systems’ mtu mobile and stationary power solutions across critical sectors such as energy, technology, mining, transportation, and oil & gas.
Located in a specially adapted facility spanning approximately 6,000m², the new site consolidates core customer-facing functions into a central hub, including service coordination, spare parts storage, logistics, and technical training. It complements Rolls-Royce’s existing footprint in South Africa, with mtu engine rebuild capability, and finance and logistics functions located in Cape Town.
The training centre is designed to support between 100 and 150 trainees annually with a wide range of training engines, including mtu 2000 and 4000 series, used for power generation, mining and rail applications. Trainees will benefit from access to advanced tooling and use simulation equipment for electronic training. The centre will deliver certified practical and theoretical training, equipping customers and partners from across Africa with the knowledge and hands-on experience required to support a wide range of applications and industries.
The new facility, operated by Rolls-Royce Solutions Africa, features dedicated capacity for the engineering and assembly of repower modules, enabling the replacement of engines in mining haul trucks and excavators with more suitable mtu power solutions. This allows customers to select upgrade options tailored to their specific operational needs. Fitting mtu engines delivers clear commercial benefits, including lower Total Cost of Ownership through improved fuel efficiency, increased equipment availability, and reduced maintenance costs. With a strong focus on system resilience, the regional subsidiary Rolls-Royce Solutions Africa is committed to delivering robust, fit-for-purpose solutions designed to perform in the demanding and often harsh operating environments across the continent.
Cobus Van Schalkwyk, Director Global Mining and Managing Director, Rolls-Royce Solutions Africa said, “As we approach our 25th year in South Africa, this new facility is a clear signal of our confidence in Africa’s growth and our commitment to being closer to our customers.
“By bringing support services, technical training, and parts availability together under one roof, we’re building the capabilities that matter most to our partners across the continent. This investment also supports our strategy to further localise operations, reduce lead times, and strengthen supply chain resilience — critical advantages for customers operating in remote or fast-paced environments.”
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DG Nigeria-China Strategic Partnership, Joseph Olasunkanmi Tegbe hosts Chinese Top Business Leaders and Investors
In line with the comprehensive strategic partnership between the Federal Republic of Nigeria and the People’s Republic of China, the Nigeria-China Strategic Partnership (NCSP) hosted a 35-man delegation of Chinese business leaders interested in investing and establishing partnerships in Nigeria.
The delegation, whose visit was facilitated by Pan-African Expansion Industrial Nigeria Ltd, comprised companies with interests in Science and Technology, Mining, Construction, Real estate, Healthcare, Tourism, and E-commerce. They were received by the Director-General of the Nigeria-China Strategic Partnership (NCSP), Mr. Joseph Olasunkanmi Tegbe. Mr. Jason Zhu, the delegation lead, highlighted areas of desired investment in Nigeria, leveraging China’s industrial and technological advancements.
While welcoming the delegation, the Director-General of the Nigeria-China Strategic Partnership (NCSP) noted that Nigeria offers a dynamic and increasingly attractive business environment, marked by significant growth and abundant opportunities for investment. As the largest economy in Africa, Nigeria significantly contribute to the continent’s GDP, boasting a vibrant and resilient market and a business climate that benefits from a large and youthful population, a strategic geographic location, and a government dedicated to implementing reforms that enhance economic stability and investor confidence. He highlighted policies and programmes that investors can key into, including investment in Free Trade Zone to boost exports from Nigeria.
Responding to questions, the DG emphasized that Nigeria is positioned to serve as the gateway to business across the African continent. However, he urged the investors to prioritize local production, stating that Nigeria seeks to move beyond merely exporting raw commodities. Instead, the focus is on upgrading exports to value-added products. He encouraged the delegation to bring advanced technology and manufacturing capabilities to support this goal, which aligns with the nation’s industrialization aspirations.
Nigeria’s thriving technology sector stands as a beacon of opportunity. The country has produced several tech unicorns, such as Andela and Flutterwave, and continues to attract global investments. With China leading the way in technological innovation, deeper collaboration in this sphere offers immense potential. Strengthened cooperation between Nigeria and China would yield mutual benefits, including increased trade and investment, job creation, enhanced infrastructure and knowledge transfer.
The Nigerian Investment Promotion Commission (NIPC) represented by Mrs Victoria Aigbedion outlined the entry protocols for the investors to register their businesses, and the incentives they can take advantage of. She noted that the NIPC is committed to making the process timely and hitch-free.
Nigeria-China Strategic Partnership was established to drive Nigeria’s socio-economic transformation through targeted Chinese investments, aligning with Nigeria’s Renewed Hope Agenda and China’s Belt and Road Initiative. The event marked another significant step in deepening the Nigeria-China business relationships and is expected to foster a mutually beneficial cooperation between the two nations.
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Africa Investment Forum 2024: Turning Continent’s Potential into Bankable Opportunities
…Private capital in Africa will be more attractive than other emerging markets in five years’ time
The Africa Investment Forum kicked off its 2024 Market Days in Rabat, Morocco, with leaders highlighting the continent’s bankability and readiness for investment.
In her welcoming remarks, Morocco’s Minister of Economy and Finance, Nadia Fettah Alaoui, told more than 1,000 delegates that this year’s Forum was a critical moment for creating a prosperous Africa: “The long-awaited rise of our continent rests on securing financing and we must act collectively to achieve this”.
She further emphasized: “I’m deeply convinced that the Africa Investment Forum 2024 will be a privileged opportunity to enrich our common reflection, explore innovative solutions to persistent challenges, while strengthening the strong partnerships to make our aspirations a reality.”
The president of the African Development Bank Group, Dr. Akinwumi Adesina, chairman of the Africa Investment Forum, said capital must be deployed to meet opportunities. “I am fully convinced that the accelerated development of Africa requires greater mobilization of private capital.”
Under the theme “Leveraging innovative partnerships to scale up,” this year’s Market Days event brings together over 500 business leaders and SMEs to discuss why Africa, with 39% of the world’s population under the age of 20 and a market of 2.5 billion consumers by 2050, is the place to invest today and in the future.
Adesina announced that $15 billion in deals have already been originated this year, with 41 boardrooms ready for follow-up discussions on diverse African investment opportunities spanning mining, water and sanitation, food and agriculture, renewable energy and transportation and seaports.
“The theme of this Africa Investment Forum is leveraging at scale. It’s about how to make things happen at scale for Africa,” Adesina said. “Africa doesn’t have time for Mickey Mouse investments, we need investment at scale. We must make room for capital to be deployed to meet opportunities in Africa. At the Africa Investment Forum, this is the driving principle that brought us together as founding members.”
The forum is an initiative of nine development finance institutions—the African Development Bank, Africa50, Afreximbank, the Development Bank of Southern Africa, the Islamic Development Bank, the European Investment Bank, Trade and Development Bank the Africa Finance Corporation, and the Arab Bank for Economic Development in Africa.
A prime example of the collaborative partnership by the Forum’s founding partners is the Lobito Corridor in Angola, a $10 billion infrastructure project featuring rail, road, bridges, telecommunications, energy, and agribusiness developments. Key project partners include the African Development Bank which committed about $500 million, Africa Finance Corporation, serving as overall Project Developer and the Development Bank of Southern Africa which leads the first project phase. The corridor will create thousands of jobs and facilitate regional integration across Angola, Democratic Republic of Congo, and Zambia. The United States and the European Commission are among global partners who signed a Memorandum of Understanding in October 2023 to mobilise resources for the Lobito Corridor.
Highlighting Africa’s mineral potential, he noted that the continent possesses 90% of the world’s platinum, 95% of its chromium, and two-thirds of global cobalt.
“With 30% of the world’s lithium Africa is a key part of the Electric Vehicle market. This $7 trillion market will grow to $59 trillion by 2050. With strategic investment, Africa can become a great energy hub for the world,” he added.
Citing an Asset Managers’ survey, Adesina revealed that 85% of managers expect to increase private capital allocation to Africa, while 52% anticipate Africa’s private capital becoming more attractive in the next five years.
“Our focus is on a triple mandate, to advance high-impact projects to bankability, raise capital and accelerate the closure of deals. By focusing on investment facilitation for Africa, the Africa Investment Forum has become the premier investment platform for Africa,” Adesina said.
Since its inception in 2018, the Africa Investment Forum has generated $180 billion of investor interests and closed transactions worth $30 billion.
During a panel discussion, representatives of the founding partners shared practical cases of projects their respective institutions have engaged in through partnership with private entities and governments.
With three days of market days now underway in Rabat, Adesina’s rallying cry resonates:
“Africa is bankable – let the deals begin!”
- Dr. Adesina’s speech (http://apo-opa.co/4ikQF2d)
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AfDB and partners plan to make the Abidjan-Lagos corridor highway a potent economic and industrial hub
…this 1,028-kilometre transnational coastal motorway will connect Côte d’Ivoire to Nigeria, while crossing through Ghana, Togo and Benin
The Abidjan-Lagos corridor highway will link the cities of five major West African countries by 2030, and is set to become a powerful economic and industrial hub courtesy of the Spatial Development Initiative promoted by the African Development Bank.
This 1,028-kilometre transnational coastal motorway will connect Côte d’Ivoire to Nigeria, passing through Ghana, Togo, and Benin. The African Development Bank revealed this at an online workshop held on Thursday, November 22, with all the project partners. Work is due to commence in 2026 and is earmarked for completion in 2030.
Under the African Development Bank’s leadership, feasibility studies, financing options for the motorway and institutional arrangements for getting the Abidjan-Lagos Corridor Management Authority up and running have already been overseen.
The Director of the Bank’s Infrastructure and Urban Development Department, Mike Salawou, said the transport corridor needs to become an economic corridor:
“This economic corridor approach also naturally overlaps with major urban development. It will support the growth of major economic hubs and improve links between large urban centres, secondary cities and rural areas within the five countries. The Bank has launched the Spatial Development Initiative to enable transformative industrialisation right along the highway, to stimulate the growth of major economic clusters,”
In a report presented by the consultancy firm responsible for devising the Spatial Development Initiative, 206 specific interventions were identified that could initially require primarily private sector funding investments of around $6.8 billion. The spheres targeted for transformative investment include energy, renewable energy, manufacturing, transport and logistics, agriculture and agri-industry, ICT, tourism, mining and special economic zones.
The Director of Transport at the Economic Community of West African States (ECOWAS) Commission, Chris Appoiah, added, “Our ultimate objective is to ensure that the corridor and the economic activities to be developed along it contribute to the ECOWAS regional integration agenda. It’s an integrated project that, once implemented, will help us achieve the economic union we desire in our area.”
The toll-free motorway will boast four to six lanes, with up to eight lanes in Lagos. After a drive of 82 km through Nigeria, the road will cover 520 km in Ghana, 144 km in Cote d’Ivoire, 90 km in Togo, and 127 km in Benin. There are also plans to build 63 interchanges. Construction of the road is expected to generate up to 70,000 direct and indirect jobs. Most of the work will be carried out in the form of public-private partnerships,
The African Investment Forum, the largest investment platform in Africa championed by the African Development Bank and eight other partners, has been providing significant impetus to the project. At the time of its “boardrooms” in 2021, various private and institutional actors had pledged $15.6 billion in potential investment for this emblematic project, which is one of ECOWAS’ key priorities.
Lydie Ehouman, the Chief Transport Economist and Project Manager at the African Development Bank presented the preparatory studies for the project. She said it would link an urban population which is expected to reach 173 million people by 2050 and connect the most densly populated metropolitian areas in West Africa the infrastructure will connect the most economically dynamic cities and the most densely populated metropolitan areas in West Africa from Abidjan, Takoradi and Accra, to Lomé, Cotonou, Porto-Novo and Lagos:
“The Abidjan-Lagos highway will connect up with the West African transport corridors (airport, road and rail) and will link the inland regions of Mali, Burkina Faso and Niger to all eight ports in the corridor, as well as to the Abidjan-Dakar-Praia corridor,” concluded Ehouman, who also served as moderator during the session.
The Bank was also represented at the gathering by Marco Yamaguchi, Head of Division in the Bank’s Infrastructure and Urban Development Department.
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CPPE Expresses Concerns Over Expatriate Employment Levy (EEL) Policy Implementation
The Centre for the Promotion of Private Enterprise (CPPE) has issued a statement expressing serious concerns regarding the recent introduction of the Expatriate Employment Levy (EEL) by the government. While acknowledging the dual purpose of promoting localization of skills and economic growth, the CPPE highlights potential unintended consequences of the policy.
Dr. Muda Yusuf, CEO of the Centre for the Promotion of Private Enterprise (CPPE), noted that there are existing legislations and regulations with similar objectives, such as the expatriate quota administered by the Nigeria Immigration Service and the National Content Act for the oil industry. However, implementation of these measures has been weak, primarily due to institutional shortcomings rather than a lack of policies.
Implications of the New Policy for Investment:
- Short Timeline for Compliance: The CPPE criticizes the short four-week timeline given for companies to comply with the new policy, arguing that such a major shift requires a minimum of six months for adequate adjustment.
- Impact on Major Investors: Some affected companies are major investors with significant investments in Nigeria. The CPPE urges the government, known for its investment-friendly stance, to provide more time for compliance, considering the scale of these investments.
- Effect on Direct Investors: Both foreign and domestic direct investors are likely to be negatively impacted, affecting critical sectors such as oil and gas, manufacturing, infrastructure, mining, ICT, and healthcare.
- Vulnerable Sectors: Sectors such as construction, distributive trade, hospitality, and logistics are particularly vulnerable to the policy’s implications and should be targeted accordingly.
- Concerns for Diaspora Nigerians: The CPPE warns that the policy may trigger reciprocal actions from other countries, jeopardizing the interests of Nigerian diaspora communities and the significant remittances they contribute to the economy.
- Diplomatic Implications: Nigeria’s leadership position in Africa and its role in continental economic integration could be undermined by the policy, especially considering the potential for reciprocal actions by other African countries.
Appeal for Review:
The CPPE appeals to the government to review the policy and undertake broader consultations to fine-tune its implementation. The organization emphasizes the importance of safeguarding genuine investors and considering the diplomatic implications, particularly for the diaspora community.
He urged stakeholders to prioritize dialogue and collaboration in addressing the challenges of the Expatriate Employment Levy policy.
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Firm advances sustainable development in Africa with new regional footprint in Southern Africa
Organizations in the Southern African Development Community (SADC) region are now set to further their sustainability agenda after a support firm expanded its outreach by opening a new regional office in Lusaka, Zambia. Impact Africa Consulting Limited
Speaking during the briefing, Partner and Lead Consultant, Dr. Edward Mungai explained that this expansion signifies a major leap in IACL’s commitment to advancing sustainability across the African continent. “The opening of our Lusaka office is in line with IACL’s dedication to fostering sustainable practices among organizations in Africa. We are thrilled to bring our unique blend of global expertise and localized solutions to more organizations in the Southern African Development Community (SADC) region, helping them navigate the complexities of sustainability in today’s global landscape.”
The firm has been assisting private and public sectors, multilateral and bilateral organizations, development agencies and NGOs across the continent with sustainability advisory, enterprise support services, impact assessments and capacity building on sustainable development. Hitherto, more than 60 clients from 14 countries in Africa have benefitted from IACL’s services which include 70 completed projects and over 15 sustainability and impact reports published. The firm has also developed over 30 sustainability strategies and offered close to ten carbon credits and advisory services.
Kingsley Kalusha, appointed as the Southern Africa Regional Manager, shared his vision for the region saying, “Our presence in the Southern Africa region positions us to effectively address the specific needs of this region. We aim to create significant impact by tailoring our services to the diverse challenges faced by organizations here, ensuring sustainable growth and development.”
On matters sustainability, the Southern Africa faces significant challenges but has also made crucial strides in untapping numerous opportunities geared towards sustainable development. Environmental challenges are among the key issues, and these have further been exacerbated by the effects of climate change with organizations seeing the value of addressing this menace. The region has also been characterised by economic diversification where organizations are now deviating from the mining and extractive industries to sectors like agriculture, manufacturing and tourism, which is vital for sustainable growth. The blue economy, conservation, regional cooperation, community development and urban and corporate sustainability are other sectors that are also set to gain much from IACL’s regional presence in the Southern Africa region.
Earlier this year, IACL announced its partnership with Global Reporting Initiative to become a GRI Certified Training Partner in the Africa region. GRI Professional Certification Program is the only one of a kind offered by The Global Reporting Initiative, an international organization that promotes sustainability reporting and disclosure. GRI’s standards and frameworks are widely recognized as the global benchmark for sustainability reporting.
More about the firm is available on their website www.impactingafrica.com
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Ogilvy Africa announces a new leadership team in Zambia
Ogilvy Africa has announced a new leadership team for its agency in Lusaka, Zambia. The move aims to further its network by strengthening its market leadership and operations in Zambia.
The new line-up includes the appointment of country business and creative leads. Ethel Kandiwo joins as Deputy Managing Partner to run the office, while Ibrahim Musoke has been appointed Creative Director. Both Ethel and Ibrahim will work closely with Ogilvy’s Africa leadership team to deliver world-class competencies in the country.
Speaking on the appointments, Ogilvy Africa CEO, Vikas Mehta said “Zambia is one of our smallest operations in Africa, but one of our fastest-growing. We’re making a step-change in our approach to Zambia as a priority market, and the new leadership team represents just that. Under Ethel and Ibrahim’s leadership, we look forward to bringing the best of Ogilvy to the market in communication, content, experience, PR & Influence, and media to our clients.”
Ethel is a Marketing expert with over 14 years’ experience in the media and advertising industry. She has a strong record of creating and delivering effective, high-impact content and communications programs for some of Zambia’s most renowned brands in sectors such as Telecommunications, Insurance, Banking & Finance, Mining, Agriculture, FMCG as well as the Not for Profit sector. She brings in nearly a decade-and-a-half in experience having worked across industry verticals and brands with companies such as Black Dot and Giraffe Creatives.
“I am very excited about my new role and very eager to roll up my sleeves as I take up more responsibilities. I am very passionate about what I do and I look forward to great teamwork and support from my colleagues” Said Ethel.
In her new role, Ethel will be responsible for leading the agency’s teams across disciplines and growing the network’s presence in the market by partnering existing and new clients.
As Creative Director, Ibrahim Musoke will have creative oversight of all the creative work from conception, implementation, and development of strategies for the various clients across the agency in Zambia.
“My life has always emulated art, I value quality and I hope to inspire my colleagues through my leadership. I believe anything is possible if you put your mind to it. I look forward to developing great campaigns that will inspire many and work with the team to grow the Ogilvy Africa brand in Zambia”
Ibrahim has worked for a decade in art, advertising, photography, multimedia design and animation. Over the years, he’s worked on several brands for companies including Airtel, Barclays, Coca-Cola, Diageo, Equity Bank, RwandAir, Shell and Sheraton. Through his experience, he has honed his skills, learned from his peers and role models and has grown from an Artist to Designer to Creative Director. He is passionate about teamwork and takes every challenge as an opportunity to exceed expectations.